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The GNSS chip market is expected to grow at a CAGR of 7.9% between 2016 and 2022 to reach USD 5.22 billion by 2022. The key driving factors for the growth of the GNSS chip market include the growing need for wearable electronics; rising demand for real-time analysis in surveying, navigation, mapping, and other positioning applications; and high penetration of electronic devices, wearables, and connecting devices. However, high initial investments are restraining the growth of the GNSS chip market.

“Smartphone to dominate the GNSS chip market during the forecast period”

Smartphones held the largest size of the GNSS chip market in 2015. GNSS chips in smartphones are used for applications such as location-based services (LBS), online games, and mobile geographic information systems (GISs), among others. Smartphones are expected to hold the largest size of the GNSS chip market during the forecast period due to the increasing demand in developing countries and the need for real-time information pertaining to the exact location of vehicles, individuals, and other assets.

“Automotive vertical to hold a major share of the GNSS chip market during the forecast period”

The market for the automotive vertical is expected to grow at a high rate between 2016 and 2022. GNSS chips are being used in the automotive sector in applications such as connected cars and in-vehicle systems. Vehicle-detection and surveillance technologies are continuously being upgraded for enhanced speed monitoring, traffic counting, and vehicle classification. Connected cars are equipped with devices that enable Internet access using GNSS chips and allow them to communicate with other cars on the road and infrastructure-including traffic stop signals, satellites, cloud-based services, and road-side antennas, among others.

“APAC to be the fastest-growing market for GNSS chip during the forecast period”

APAC is expected to be the fastest-growing market for GNSS chip during the forecast period. The major consumer electronics manufacturers in APAC are focused toward launching new and innovative products that require real-time data for tracking and recording particular locations using various devices such as smartphones, wearable devices, tablets, and so on. Therefore, the ongoing technological advancements in the consumer electronics sector and the growing popularity of wearable devices in APAC are fueling the growth of the GNSS chip market in this region.

The break-up of the profiles of primary participants for the report has been given below:

The research report on the global GNSS chip market covers the market on the basis of device, application, vertical, and geography. The market, on the basis of devices, has been segmented into smartphones, personal navigation devices (PNDs), tablets, in-vehicle systems (IVSs), and others. On the basis of verticals, the GNSS chip market has been classified into consumer electronics, construction, agriculture, automotive, military and defense, and marine. Further, the GNSS chip market, on the basis of application, has been segmented into navigation, mapping, surveying, telematics, and others. The report covers four major geographical regions, namely, North America, Europe, APAC, and RoW.

Key Benefits of Buying the Report:

Illustrative segmentation, analysis, and forecast for the market based on device, application, vertical, and geography have been conducted to give an overall view of the GNSS chip market.

The Porter’s five forces framework has been utilized, along with the value chain analysis, to provide an in-depth insight into the GNSS chip market.

The major drivers, restraints, opportunities, and challenges for the flexible battery market have been detailed in this report.

The report includes a detailed competitive landscape, along with key players, in-depth analysis, and revenue of the key players.

FEATURED COMPANIES

The GNSS chip market is expected to be valued at USD 5.22 Billion by 2022, growing at a CAGR of 7.9% between 2016 and 2022. Some of the factors driving the growth of the GNSS chip market include the high penetration of electronic, wearable, and connecting devices; increasing demand for accurate and real-time data; rising demand for high-speed Internet and network coverage such as 4G/5G; and growing popularity of IoT. The GNSS chip market has been segmented on the basis of device, vertical, application, and geography.

The GNSS chip market for in-vehicle systems is expected to grow at a high rate between 2016 and 2022. GNSS chips are used to provide precise positioning, and the in-vehicle systems are mounted on excavators, dozers, graders, and scrapers used in the construction industry. In-vehicle systems are considered ideal for navigation applications as these systems are capable of providing real-time information pertaining to the current status of the vehicles and guiding the drivers accordingly. Moreover, these systems can integrate infotainment technologies, which enhance driving experiences as well as the attractiveness of a vehicle.

Location-based services (LBS) held the largest share of the GNSS chip market for applications in 2016. The market for LBS is expected to grow at a rate during the forecast period, owing to the increasing demand for navigation and in-vehicle systems worldwide. GPS/GNSS technologies are being increasingly used for surveying and mapping applications such as tracking of unfamiliar locations suitable for construction, agriculture, and mining as well as for other location-based services. GNSS chips are integrated in mobiles and other navigation systems to receive signals from various constellations or combination of constellations.

The GNSS market for the automotive vertical is expected to grow at a high rate between 2016 and 2022. Connected cars are equipped with devices that enable Internet access using GNSS chips; these devices allow the cars to communicate with other cars on the road. Therefore, the increasing demand for connected cars is fueling the growth of the GNSS market.

The market for the construction vertical would grow at a considerable rate between 2016 and 2022. GNSS receivers provide precise positioning of dirt or loading materials with the help of smartphones, thereby optimizing the operations in the construction sites. GNSS receivers are used to provide accurate positioning information on construction sites. Due to this, the demand for GNSS chips in the construction industry is increasing.

APAC is expected to be the fastest-growing market for GNSS chips. China holds the largest share of the GNSS chip market in APAC; the market in China is expected to grow at a high CAGR during the forecast period. China is a developing economy and is considered as a major consumer electronics manufacturing hub, and consumer electronics is an emerging application area for GNSS chips. In addition, the technological advancements in the smartphones and consumer electronics sectors as well as the growing popularity of wearable devices are driving the demand for GNSS chips in APAC. Moreover, APAC is home to some of the major consumer electronic and wearable device manufacturers such as Samsung Electronics Co., Ltd. (South Korea), Panasonic Corp. (Japan), Sony Corp. (Japan), and LG Electronics Inc. (South Korea), which are integrating GNSS chips in their miniaturized electronic devices.

One of the key restraining factors for the growth of the GNSS chip market is the requirement of high initial investments. The agriculture sector deploys GNSS systems in applications such as tractor guidance, monitoring automatic steering-wheel movements, and so on. However, the farmers have to bear the high price of devices and equipment used for precision farming as an initial investment. The GNSS technology-enabled devices used in navigation and mapping applications are expensive and are usually purchased along with actual farming equipment.

The key market players such as Qualcomm Incorporated (U.S.), STMicroelectronics N.V. (Switzerland), and Intel Corporation (U.S.) are focusing on new product launches and developments, acquisitions, and collaborations to enhance their product offerings and expand their businesses.